Sluggish job numbers continue in August: Compton
CHARLOTTETOWN – New job numbers for August released from Statistics Canada underscore challenges facing the Island economy, says Belfast-Murray River MLA and Opposition Finance Critic Darlene Compton.
“The latest data for August shows that although our population grew slightly our labour force, participation rate and the number of full-time jobs all decreased. Meanwhile, total employment remained unchanged. These are concerning signs when August is one of our busiest months of economic activity,” says Compton.
Statistics Canada labour force data for August shows that the total labour force shrank by 800 and that the Island economy lost 200 full-time positions, partially offset by an increase of 100 part-time positions. More troubling is the fact that there are 2800 fewer full-time jobs in the economy in August compared to August 2014.
Compton also noted that the sluggish jobs data is troubling considering the heavy reliance that government has placed on economic growth to meet its budget targets.
“The government has been very optimistic in its revenue projections for the year but when we see a year to year drop in full time jobs of 2800 it’s hard to see what that optimism is based on,” says Compton.